U.S. Code » Title 12 » Chapter CHAPTER 51— SECURE AND FAIR ENFORCEMENT FOR MORTGAGE LICENSING

12 U.S.C. § 5101

Purposes and methods for establishing a mortgage licensing system and registry

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In order to increase uniformity, reduce regulatory burden, enhance consumer protection, and reduce fraud, the States, through the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators, are hereby encouraged to establish a Nationwide Mortgage Licensing System and Registry for the residential mortgage industry that accomplishes all of the following objectives:(1) Provides uniform license applications and reporting requirements for State-licensed loan originators.(2) Provides a comprehensive licensing and supervisory database.(3) Aggregates and improves the flow of information to and between regulators.(4) Provides increased accountability and tracking of loan originators.(5) Streamlines the licensing process and reduces the regulatory burden.(6) Enhances consumer protections and supports anti-fraud measures.(7) Provides consumers with easily accessible information, offered at no charge, utilizing electronic media, including the Internet, regarding the employment history of, and publicly adjudicated disciplinary and enforcement actions against, loan originators.(8) Establishes a means by which residential mortgage loan originators would, to the greatest extent possible, be required to act in the best interests of the consumer.(9) Facilitates responsible behavior in the subprime mortgage market place and provides comprehensive training and examination requirements related to subprime mortgage lending.(10) Facilitates the collection and disbursement of consumer complaints on behalf of State and Federal mortgage regulators.(Pub. L. 110–289, div. A, title V, § 1502, July 30, 2008, 122 Stat. 2810.)Statutory Notes and Related SubsidiariesShort Title of 2015 Amendment

Pub. L. 114–94, div. G, title LXXXVIII, § 88001, Dec. 4, 2015, 129 Stat. 1799, provided that: “This title [amending section 5110 of this title] may be cited as the ‘State Licensing Efficiency Act of 2015’.”

Short Title

Pub. L. 110–289, div. A, title V, § 1501, July 30, 2008, 122 Stat. 2810, provided that: “This title [enacting this chapter] may be cited as the ‘Secure and Fair Enforcement for Mortgage Licensing Act of 2008’ or ‘S.A.F.E. Mortgage Licensing Act of 2008’.”

Notes of Decisions
Cited in 21 cases (5 in the last 5 years), 2010–2024 · leading case: Garozzo v. Missouri Dep't of Ins., 389 S.W.3d 660 (Mo. 2013).
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Garozzo v. Missouri Dep't of Ins., 389 S.W.3d 660 (Mo. 2013). · cites it 2× “12 U.S.C. § 5101 . The SAFE Act provides that the federal government will establish a licensing system in any state that declines to adopt a licensing and registration law that complies with the minimum requirements of the SAFE Act.”
Reid v. Neighborhood Assistance Corp. of Am., 749 F.3d 581 (7th Cir. 2014). “, and the Secure and Fair Enforcement for Mortgage Licensing Act ('‘SAFE” Act), 12 U.S.C. § 5101 , et seq. 5 . This method of proof correlates with the “direct method” in a federal retaliation claim, where the plaintiff has the burden to prove causation either by direct evidence…”
Frost v. Com'r, New Hampshire Banking Dept., 42 A.3d 738 (N.H. 2012). “In response to the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (the SAFE Act), 12 U.S.C. § 5101 , which enhanced consumer protection by requiring states to pass legislation establishing minimum standards for licensing and registration of state-licensed…”
Neighborhood Assistance Corp. of Am. (Naca) v. U.S. Dep't of Hous. & Urban Dev., 907 F. Supp. 2d 112 (D.D.C. 2012). “” 12 U.S.C. §§ 5101 , 5104(b). The SAFE Act defines loan originators as those who “take[ ] a residential mortgage loan application” and “offer[] or negotiate[ ] terms of a residential mortgage loan for compensation or gain.”
1st All. Lending, LLC v. Dept. of Banking, 269 A.3d 764 (Conn. 2022). “2 We note that, although mortgage lender licensing requirements through- out the United States have become more uniform in the wake of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act), 12 U.S.C. § 5101 et seq., revocation and suspension of licenses…”
Mohammad v. Dep't of Fin. & Prof'l Reg., 2013 IL App (1st) 122151, 993 N.E.2d 90. “51 (2011) (discussing the circumstances that led to passage of the SAFE Act and explaining the law’s components); Lauren Hassouni, The Nuts, Bolts, Carrots, and Sticks of the Mortgage and Foreclosure Crisis and a Suggested Solution, 2010 Ann.”
State Nat'l Bank of Big Spring v. Geithner, 958 F. Supp. 2d 127 (D.D.C. 2013). “; the Secure and Fair Enforcement for Mortgage Licensing Act of 2008, 12 U.S.C. § 5101 et seq.; the Interstate Land Sales Full Disclosure Act, 15 U.”
Jeanne Emiddio v. Florida Off. of Fin. Reg., 147 So. 3d 587 (Fla. 4th DCA 2014). “12 U.S.C. § 5101 (2008). The law created the term “loan originator” to encompass mortgage brokers and mortgage lenders, and it required all loan originators to apply through and be registered with the national system.”
Martin v. First Advantage Background Servs. Corp., 877 F. Supp. 2d 754 (D. Minn. 2012). “comply with the SAFE Act, 12 U.S.C. § 5101 et seq., which requires that mortgage loan originators working for banks such as Wells Fargo be licensed and registered in a national registry.”
In re Ralph Roberts Realty, LLC, 500 B.R. 862 (Bankr. E.D. Mich. 2013). “On Friday, November 2, 2012, Roberts spoke to Jacobs and requested that Jacobs provide Roberts with legal advice, relating to the federal law known as the Secure and Fair Enforcement Mortgage Licensing Act of 2008, also known as the SAFE Act, 12 U.S.C. § 5101 , et seq., and…”
Dep't of Fin. Institutions v. Michael Massey, 20 N.E.3d 853 (Ind. Ct. App. 2014). “12 U.S.C. § 5101 (emphasis added). In addition, SAFE defines the NMLS as a “mortgage licensing system developed and maintained by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators for the State licensing and registration of…”
Rampolla v. Banking Dep't, 31 Misc. 3d 161 (N.Y. Sup. Ct. 2010). “The Act sets forth new minimum licensing standards for MLO applicants in order to “increase uniformity, reduce regulatory burden, enhance consumer protection, and reduce fraud” ( 12 USC § 5101 ). It contains no provision governing MLO applicants with felony convictions.”
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